Minnesota Housing announced over $52 million is available to provide affordable mortgages to first-time homebuyers through a collaboration with Minnesota cities and counties, including $779,024 for Chisago County.
Homebuyers can take advantage of these resources through the Minnesota Housing Start Up loan program, which offers fixed interest rates and down payment and closing cost loans up to $15,000 for eligible first-time homebuyers.
Buyers can purchase homes in Chisago County that cost up to $330,100 (11-county metro). Income limits vary by location and household size, going up to $115,000 (11-county metro).
Minnesota Housing is a state agency that provides access to safe and affordable housing and builds stronger communities across the state. Minnesota Housing offers purchase, refinance and home improvement loans, as well as financing for affordable rental housing throughout the state.
“Community partnerships between Minnesota Housing and Chisago County and local lenders help over 2,000 households a year purchase their first homes,” said Minnesota Housing Commissioner Jennifer Leimaile Ho. “These affordable loans make homeownership more accessible for more Minnesotans.”
First-time buyers can get started by contacting participating lenders in the Chisago County area. Visit www.mnhousing.gov for a full list of approved lenders, current interest rates and program eligibility.
Minnesota Housing collaborates with individuals, communities and partners to create, preserve and finance housing that is affordable. Find out more at www.mnhousing.gov. Follow the program at www.facebook.com/minnesotahousing and on Twitter@mnhousing.